Leggett & Platt Inc. First Quarter Earnings Sneak Peek

S&P 500 (NYSE:SPY) component Leggett & Platt, Inc. (NYSE:LEG) will unveil its latest earnings on Thursday, April 26, 2012. Leggett & Platt manufactures a range of engineered components and products, including residential furnishings, commercial fixtures and components, and industrial materials.

Leggett & Platt, Inc. Earnings Preview Cheat Sheet

Wall St. Earnings Expectations: The average estimate of analysts is for net income of 32 cents per share, a rise of 6.7% from the company’s actual earnings for the same quarter a year ago. During the past three months, the average estimate has moved down from 35 cents. Between one and three months ago, the average estimate moved down. It has been unchanged at 32 cents during the last month. Analysts are projecting profit to rise by 17% compared to last year’s $1.31.

Past Earnings Performance: The company beat estimates last quarter after falling short in the prior two. In the fourth quarter of the last fiscal year, the company reported profit of 22 cents per share versus a mean estimate of net income of 21 cents per share. In the third quarter of the last fiscal year, the company missed estimates by 5 cents.

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Wall St. Revenue Expectations: On average, analysts predict $917.3 million in revenue this quarter, a rise of 2.4% from the year-ago quarter. Analysts are forecasting total revenue of $3.73 billion for the year, a rise of 2.5% from last year’s revenue of $3.64 billion.

Analyst Ratings: Optimism surrounds Leggett & Platt, as three analysts rate it as a buy, none rate it as a sell, and three rate it as a hold.

A Look Back: In the fourth quarter of the last fiscal year, profit fell 72.3% to $8.7 million (6 cents a share) from $31.4 million (21 cents a share) the year earlier, but exceeded analyst expectations. Revenue rose 6.5% to $854.1 million from $801.9 million.

Key Stats:

This earnings announcement is a chance to receover from consecutive quarters of profit declines. Net income fell 5.3% in the third quarter of the last fiscal year before falling again in the fourth quarter.

Stock Price Performance: Between February 23, 2012 and April 20, 2012, the stock price had risen $1.05 (4.8%), from $22.02 to $23.07. The stock price saw one of its best stretches over the last year between December 14, 2011 and December 27, 2011, when shares rose for nine straight days, increasing 10.9% (+$2.31) over that span. It saw one of its worst periods between July 7, 2011 and July 18, 2011 when shares fell for eight straight days, dropping 7.6% (-$1.82) over that span.

(Company fundamentals by Xignite Financials. Earnings estimates provided by Zacks)

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